Web3 is centralized and inefficient
neelc.org
Web3 is centralized and inefficient
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Re: Web3 is centralized and inefficient
#2Re: Web3 is centralized and inefficient
#3Can someone explain what Web3 is in 50 words or less to a layman?
Re: Web3 is centralized and inefficient
#4Can someone explain what Web3 is in 50 words or less to a layman?
Re: Web3 is centralized and inefficient
#5> Your wallet (MetaMask)
Run your own node. This is lazy reporting to reach the end point about fawning over FreeBSD (its in the article, literally an article about having fun staying poor), when you can just as easily inspire and teach people how to use custom RPCs. There is an opportunity to inspire people with the tools to know what to look for, even if it's absurd to suggest people actually compile and run a node themselves. Tell them why the default behavior is a convenience and if they are interested in the decentralized parts then here is what to do.
> marketplaces (OpenSea)
Yep. It is a GUI ontop of their smart contracts (public access backend code). You don't have to use their GUI. You should inspect their smart contracts for centralized control, or at least look to see if anyone else has. There is an opportunity to inspire people with the tools to know what to look for, even if its absurd to suggest people actually do all the analysis themselves.
> APIs (Alchemy) are all central platforms
a fine example. don't use Alchemy or Infura as your RPC endpoints? Why not just make blog posts about that?
This kind of energy could just as easily be steered into "how to improve the concept of Web3" which lots of people are actually doing. It could just as easily be "This isn't decentralized! Let me fix that!"
Re: Web3 is centralized and inefficient
#6Re: Web3 is centralized and inefficient
#7The (now infamous) Andre Cronje had a whimsical tweet reminiscing on his days as a lawyer: "The contracts aren't for when everything is going right. They're for when everything is going wrong." Some network wide catastrophe is seemingly inevitable for any sufficiently large system. When these occur it will be the decentralized blockchains like Ethereum with failsafes in place to survive, and it's the centralized blockchains like Binance that will implode.
Re: Web3 is centralized and inefficient
#8Can someone explain what Web3 is in 50 words or less to a layman?
Re: Web3 is centralized and inefficient
#9Re: Web3 is centralized and inefficient
#10If anyone is looking for useful criticisms of "web3", here are a couple:
* there is no meaningful privacy on most popular chains; everybody can see your transaction history
* it's difficult for new nodes to join and check the history, making decentralization difficult, and also leading to some of the centralization issues mentioned in the article
* the popular chains have low transaction throughput and latency due to reliance on outdated consensus mechanisms (BTC, Ethereum) and/or due to the need to enable weaker computers to check history (but see previous point).
* losing your funds is easy if you lose your key
There's tons of research being done to resolve these issues, ranging from improved cryptographic proof mechanisms such as zkSNARKs and interactive fault proofs, to better consensus and sybil-resistance mechanisms, but this stuff takes time, and is literally the cutting-edge of these fields, so impact is delayed.